very hard to do a big deal, too. obviously, we have to pass an agreement, but the president will be working towards the largest possible deal because that's what's right for the country. >> the specific consequences of inaction and potential default -- that august 2nd date is coming. this is a big issue in congress and also among those running for president or perhaps running for president. sarah palin did an interview with "newsweek" and said this is not the apocalypse here. i'm asking you specific consequences to the united states of getting to august 2nd without raising the debt limit. >> let me that i can this clear, david, the united states is not going to default. we're a country that pays its bills. we're going to meet our obligations, and leadership in congress, republicans and democrats, house and senate, understand that. speaker boehner, to his credit, said from the beginning, we are not going to default as a country, because he understands it would be catastrophic for the american economy. let me explain w